Sold office equipment for cash and received book value Debit cash, Accum. depreciation Credit Office Equipment Cash Receipts Journal

Sold delivery equipment for more than book value Debit Cash Accum. Dep- DE Credit Delivery Equipment Gain on Plant Asset Cash Receipts Journal

Wrote off past-due account of Gina Gates as uncollectible Debit Allow. for Uncollectible Accts. Credit AR/Gina Gates General Journal

Reopened Gina Gates account that had been previously written off Debit AR/Gina Gates Credit Allow. for Uncollectible Accts. General Journal

Received cash from Gina Gates for the amount due. Debit Cash Credit AR/Gina Gates Cash Receipts Journal

Sold delivery equipment for less than book value Debit Cash Accum. Dep- DE Loss on Plant Asset Credit Delivery Equipment Cash Receipts Journal

Accepted a note from Patti Day for an extension of time. Debit Notes Receivable Credit AR/Patti Day General Journal

Received cash for the maturity value of a note receivable. Debit Cash Credit Notes Receivable Interest Income Cash Receipts Journal

Joe Brothers dishonored his notes receivable. Debit AR/Joe Brothers Credit Notes Receivable Interest Income General Journal

Signed a note with the American Bank. Debit Cash Credit Notes Payable Cash Receipts Journal

Signed a note with Lawrence Supply for an extension of time. Debit AP/Lawrence Supply Credit Notes Payable General Journal

Paid cash for the maturity value of a notes payable. Debit Notes Payable Interest Expense Credit Cash Cash Payments Journal

Paid cash for semimonthly payroll less income tax, Medicare and social security. Debit Salary Exp. Credit Emp. Inc. Tax Pay. Medicare Tax Pay. SS Tax Pay. Cash Cash Payments Journal

Recorded employer payroll tax expense. Debit Payroll Tax Exp. Credit Medicare Tax Pay SS Tax Pay Fed. Unemploy. Tax Pay State Unemploy. Tax Pay General Journal

Paid cash for liability for employee income tax, Medicare, social security. Debit Emp. Inc. Tax Pay Medicare Tax Pay SS Tax Pay Credit Cash Cash Payments Journal

Paid cash for federal unemployment tax liability. Debit Fed. Unempl. Tax Pay. Credit Cash Cash Payments Journal

Paid cash for state unemployment tax liability. Debit State Unemploy. Tax Pay Credit Cash Cash Payments Journal

The board of directors declared dividends. Debit Dividends Credit Dividends Payable General Journal

Paid cash for dividends that were previously declared. Debit Dividends Payable Credit Cash Cash Payments Journal

Dissolving a partnership: received cash from sale of delivery equipment in which there was a gain. Debit Cash Accum. Deprec.—DE Credit Delivery Equipment Loss & Gain on Realization Cash Receipts Journal

Dissolving a partnership: received cash from sale of supplies in which there was a loss. Debit Cash Loss & Gain on Realization Credit Supplies Cash Receipts Journal

Dissolving a partnership: Paid cash to all creditors for amounts owed. Debit Accounts Payable Credit Cash Cash Payments Journal

Dissolving a partnership: Recorded distribution of Gain on Realization Debit Loss & Gain on Realization Credit Partner Capital Accounts General Journal

Dissolving a partnership: Recorded final distribution of remaining cash to partners. Debit Partner Capital Accounts Credit Cash Cash Payments Journal

Recorded international cash sale. Debit Cash Credit Sales Cash Receipts Journal

Recorded a time draft receivable for an international sale. Debit Time Draft Receivable Credit Sales General Journal

Received cash for the value of the time draft receivable. Debit Cash Credit Time Draft Receivable Cash Receipts Journal

Recorded Internet credit card sales. Debit Cash Credit Sales Cash Receipts Journal

Recorded adjusting entry for uncollectible accounts expense. Debit Uncollectible Accts. Exp. Credit Allow. for Uncollectible Accts. Note: all adjusting, closing and reversing entries are in the general journal.

Recorded adjusting entry for estimated depreciation. Debit Depreciation Exp. Credit Accumulated Depreciation

Recorded adjusting entry for increase to merchandise inventory Debit Merchandise Inv. Credit Income Summary

Recorded adjusting entry for Prepaid Insurance Debit Insurance Exp. Credit Prepaid Insurance

Recorded adjusting entry for supplies. Debit Supplies Exp. Credit Supplies

Recorded adjusting entry for accrued interest income. Debit Interest Receivable Credit Interest Income

Recorded adjusting entry for accrued interest expense. Debit Interest Expense Credit Interest Payable

Recorded adjusting entry for Federal Income Tax Expense Debit Federal Income Tax Expense Credit Federal Income Tax Payable

Close the sales account. Debit Sales Credit Income Summary

Close the purchases account. Debit Income Summary Credit Purchases

Close the rent expense account. Debit Income Summary Credit Rent Expense

Close purchases discount account. Debit Purchases Discount Credit Income Summary

Close the sales returns and allowances account. Debit Income Summary Credit Sales Ret. & Allow.

Close Income Summary for corporation (net income). Debit Income Summary Credit Retained Earnings

Close dividends. Debit Retained Earnings Credit Dividends

Reversing entry for accrued interest expense. Debit Interest Payable Credit Interest Expense

Reversing entry for accrued interest income. Debit Interest Income Credit Interest Receivable